Business Councils announce 2016 plans for PNG
With major global financial institutions still predicting economic growth in Papua New Guinea albeit at a less rapid pace, business councils in New Zealand and Australia are announcing plans for not just the next year, but a couple of years beyond. <!--more-->
Reflecting on developments in 2015 the Executive Team of the New Zealand Papua New Guinea Business Council says one of the highlights was the 2015 Pacific Games held in Port Moresby in July and the 40th Anniversary of Independence on September 16, 2015.
<a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/12/rsz_pg.png"><img class="alignleft size-full wp-image-7624" src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/12/rsz_pg.png" alt="rsz_pg" width="138" height="104" /></a>The Pacific Games prompted investment in some major infrastructure that included two stadia and the flyover linking Jackson airport in Port Moresby to the city, built with strong New Zealand involvement. The Games were a big success for the country on several fronts, and this boosts confidence in what can be achieved. The APEC conference is on the horizon in 2018 and also presents infrastructure opportunities.
The executive acknowledged the economic backdrop featuring an ongoing down cycle in the prices of oil and gas and over other major commodities from the mining sector, but advised that these occur regularly, on a cyclical basis and the logical extrapolation is that revenues may well rise again within the next year or two. Meanwhile, there are important prospects for investment and economic activity as interest in the investment in alternative energy, particularly hydropower is growing.
The council plans to host a trade mission to PNG and will be seeking expressions of interest shortly, from firms who may wish to take part. The mission is tentatively planned for next May, and a road show will be organised in several centres around New Zealand. This will provide face to face briefing on prospects in PNG and the prospects of the trade mission.
With strong encouragement from the Papua New Guinea Minister of National Planning, the Hon Mr Charles Abel, the Council are considering the inclusion of Alotau, an important regional centre for tourism and natural resources. They are also considering visiting the administrative capital of Milne Bay province as a side trip. Further details will be sent out in early February. Expressions of interest can be registered now, by emailing Christine Connon <a href="mailto:email@example.com"></a>
For more information please contact Pacific Islands Trade & Invest Investment COO Manuel Valdez on <a href="mailto:firstname.lastname@example.org"></a>
Across the Tasman, the Business Council of Papua New Guinea, the Papua New Guinea Branch of the Australia Papua New Guinea Business Council and the Australia Papua New Guinea Business Council have announced the 32nd Australia Papua New Guinea Business Forum, which will be held in Cairns from 15 to 17 May 2016.
The Forum’s theme “Today’s Investment – Tomorrow’s Returns”, say the councils, reflects an important stage reached in Papua New Guinea’s economic and social development. Papua New Guinea’s investments today in infrastructure, human services and gender parity will pay dividends in the future through reducing business costs and allowing economic and employment growth, providing a healthy, well educated work force to meet the growing demands of business, and empowering and utilising the skills and talents of a large percentage of the community not yet fully engaged in the economic life of the country, women, the news release says.
Invited speakers for the Forum include the Prime Ministers of Australia and of Papua New Guinea, and expert speakers to address a range of topics as detailed in the provisional program included in this brochure. The Forum will again feature a Trade Expo. Outcomes expected from the meeting are better insights into business and investment opportunities available through further developing business and investment relationships, including through contacts made with other business people.
Business groups in each country will present to government issues of policy change and administrative action needed to facilitate business and investment growth. Enquiries about registration, accommodation and Trade Expo bookings should be directed to e-mail <a href="mailto:email@example.com"></a> or <a href="mailto:firstname.lastname@example.org"></a>.